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Dubai strategy: past, present, future

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lily lee

on 10 December 2012

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Transcript of Dubai strategy: past, present, future

Dubai Shipping Festival
The Palm
The World
The Burj Al Arab Contents Economic Profile The Product Hotels, Gucci, And
Snow Mountains A Tourism destination
Jumeirah group (1997)
Burj Al Arab
Medinat Jumeirah
Ban Al Shams resort (2004) Dubai Strategy:
Past, Present
Future Exhibit 4: Introduction What is exactly Dubai? Creation of Dubai Inc. -The Mina (Port) Rashid (1972)
-35 berths(1978)
-Jebel Ali Port (1979) - the world’s largest man-made harbors
- the biggest port in the Middle East
- ranked as the three man-made objects
-The Jebel Ali Free Zone (1985)
-The third most important re-export center (2004)
-The Dubai Airport (1959)
-Emirates Airline (1985)
-The Dubai World Trade Center (1979)
-largest exhibition halls and host think tank Boats and Planes Resources -Inflation
-Revaluation of the currency
-Clash of cultures
-Expatriate community integration
-Allocation of resources
-Bubble to crash
-Global terrorism Challenges and problems -Introduction
-Creation of Dubai, Inc.
-Economic Profile
-Why Dubai?
-Why not Dubai?
-Beyond Dubai
-Dubai outlook2012 -Country: United Arab Emirates (UAE)
-Location: South east of the Persian Gulf on the Arabian Peninsula
- City of Dubai : Emirate’s northern coastline
-Incorporated: 9 June 1833
-Independence from UK: 2 December 1971
-Founder: Hamdan bin Mohammed bin Rashid Al Maktoum
- Sheikh Mohammed / Constitutional monarchy
-Population: 2,262,000 Metro: 3,843,121 (2010)
-Nationality: Indian(35%), Emirati(17%), Pakistani Bangladeshi, other countries Monarch, Non-transparent government, conflicts, fundamentalist, hostile countries, most humid locations Creative, Impressive, Hub of trade, Tourism, Mass communication, Shipping, Finance, Luxury, Multi-billion dollar real- estate ventures, 12 million visitors “ My grandfather rode a camel,
I drive a Mercedes,
my son drives a Land Rover,
his son will drive a Land Rover,
but his son will ride a camel.”- Sheikh Rashid- What is an implication of this quote? Sheikh Rashid Al Makhtoum Business Parks and more Business Parks -Dubai vision 2012
- one fourth of the world’s global 500
companies (2006)

- $40-$60 billion USD to projects
(Dubailand, The Palm, The Dubai International Financial Center (DIFC), Cluster of financial industry) Jebel Ali Free Zone - liberal regulatory environment
- Freedom of ownership and management
- Simplified documentation and government regulation
- Business parks
-Dubai Internet City (1999), fusion business park/free-zone
- Dubai Media City, Studio City, Health Care City, Dubailand,
Dubai Humanitaria City, Dubai Knowledge Village,
Dubiotech, Dubai Industrial City *World class shopping
*Unique, world class projects -29%of the UAE’s GDP 0n 2005
-2.4% in 2009 -> 4.5% in 2012 -60% to the Emirate’s GDP Exhibit 1: *Driving Forces
-Business Conferences -Festival Exhibit 2: Exhibit 3: -Real estate , financial services sector
-Construction 11.9% to total GDP, 48% in UAE
-Stimulate economic activity-property rights, transaction costs, capital gains taxes - Dubai International Financial Center (DIFC ), banking “free zone”
-Dubai International Financial Exchange (DIFX) in 2005 Another contributors

-Government’s strategic policy changes
-Pegging the currency to the USD
-Leadership Why Dubai? Three drivers:
- Speed

- Culture

- Governance What is the disadvantage? Who are the expatriates? Why does executive
council created? Why not Dubai? Dubai's Future Beyond Dubai
- International expansion
- Diversify economy and investment geographically What is the way to sustain the momentum and ensure sustainability? How will be the future of Dubai? Thank you for your attention Monarch, Non-transparent government, conflicts, fundamentalist, hostile countries, most humid locations Creative, impressive, hub of trade,
tourism,mass communication, shipping, finance, luxury, multi-billion $ real-estate ventures, 12million visitors Dubai Outlook 2012 -the second largest emirate in the UAE after Abu Dhabi

-one the fastest growing cities in the world

-has a diversified economy as it has managed to decrease its dependency on oil over the years

-total population is estimated to have reached c.2m in 2011

- the crisis in 2009, the trend for deleveraging is expected to continue over the coming years Dubai – an economic outlook 2012(1) -Dubai's construction sector contracted significantly in 2009 a modest recovery was evidenced over 2010 and 2011 with sound growth in the trade and logistics sector reflecting strong exports in 2010 and 2011

-Dubais GDP is expected to grow by 4.1% in Q1 2012, after an increase of 3.5% and 5% in Q3 and Q4 2011 respectively

-Construction and real estate sectors expected to achieve robust growth following a return to positive growth in parallel with global economy recovery Dubai – an economic outlook 2012(2) -Tourism sector will continue to play an important role in Dubai‟s economy

-As global economic slowdown is expected to impact Dubais trade
partners (especially Europe, China, India and other GCC countries),
access to international diverse markets will be a key element for the
emirates trade activities Inflation and government budget <Inflation>
-Inflation is expected to increase to 1.5% in Q1 2012
– Main factors include stability of cash flow in local market, European
sovereign funds activity, euros decline and dollars gains

-Major decrease due to the 2009 economic downturn, low housing and telecom costs

<Budget deficit>
-Fiscal deficit in Dubai declined from 4.3% of GDP in 2009 to c. 2% in 2010 and will continue to decline in 2012
-Dubais public expenditures have been low historically -Dubai is well placed, notwithstanding the debt fall-out constraint, to take advantage of:-located in the centre of a large young population

-It is one of the largest growing economic regions in the world- ability to attract talent
 strong support for education and the Dubai leadership has shown the ability to be a “first mover”

-With its key geographic location and infrastructure, Dubai is seen as the fastest link to rapidly developing markets across the Middle East, Africa, particularly North Africa and South Asia.

-Dubai given its financial services infrastructure and corporate regulation framework, could well become the financial centre for the Middle East Conclusion
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